Kevin Tang Acquires 1,000,000 Shares of Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) Stock

Key Points

• Kevin Tang, a director at Aurinia Pharmaceuticals, acquired 1,000,000 shares of the company's stock at an average price of $10.12, increasing his total holdings to 11,029,500 shares valued at approximately $111.6 million.
• Aurinia Pharmaceuticals' stock saw a rise of 2.2%, reaching $11.70, following a quarter where the company reported $70.01 million in revenue but missed earnings expectations with $0.16 per share.
• Institutional investors own 36.83% of Aurinia Pharmaceuticals, with several hedge funds recently increasing their stakes in the company.

Aurinia Pharmaceuticals Inc (NASDAQ:AUPH - Get Free Report) TSE: AUP Director Kevin Tang purchased 1,000,000 shares of the company's stock in a transaction that occurred on Friday, August 1st. The shares were purchased at an average cost of $10.12 per share, with a total value of $10,120,000.00. Following the completion of the purchase, the director owned 11,029,500 shares of the company's stock, valued at $111,618,540. The trade was a 9.97% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Kevin Tang also recently made the following trade(s):

• On Tuesday, August 5th, Kevin Tang acquired 200,000 shares of Aurinia Pharmaceuticals stock. The stock was bought at an average cost of $11.68 per share, with a total value of $2,336,000.00.
• On Monday, August 4th, Kevin Tang acquired 100,000 shares of Aurinia Pharmaceuticals stock. The stock was bought at an average cost of $11.34 per share, with a total value of $1,134,000.00.

Aurinia Pharmaceuticals Trading Down 0.5%

Shares of AUPH stock traded down $0.06 on Friday, reaching $11.37. 2,496,968 shares of the company's stock were exchanged, compared to its average volume of 2,572,066. Aurinia Pharmaceuticals Inc has a 52 week low of $5.29 and a 52 week high of $11.80. The company has a current ratio of 5.23, a quick ratio of 4.63 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.50 billion, a PE ratio of 26.44 and a beta of 1.23. The company's fifty day simple moving average is $8.70 and its 200 day simple moving average is $8.26.

Aurinia Pharmaceuticals (NASDAQ:AUPH - Get Free Report) TSE: AUP last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The business had revenue of $70.01 million for the quarter, compared to the consensus estimate of $64.27 million. Aurinia Pharmaceuticals had a return on equity of 20.06% and a net margin of 23.31%. As a group, analysts forecast that Aurinia Pharmaceuticals Inc will post 0.11 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price objective on Aurinia Pharmaceuticals from $8.00 to $9.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. HC Wainwright reissued a "buy" rating and set a $17.00 price target on shares of Aurinia Pharmaceuticals in a research note on Wednesday, July 30th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Invesco Ltd. increased its holdings in Aurinia Pharmaceuticals by 1.0% during the 4th quarter. Invesco Ltd. now owns 144,112 shares of the biotechnology company's stock worth $1,294,000 after purchasing an additional 1,421 shares during the period. GAMMA Investing LLC increased its holdings in Aurinia Pharmaceuticals by 56.1% during the 1st quarter. GAMMA Investing LLC now owns 4,852 shares of the biotechnology company's stock worth $39,000 after purchasing an additional 1,744 shares during the period. Bridgefront Capital LLC increased its holdings in Aurinia Pharmaceuticals by 12.9% during the 4th quarter. Bridgefront Capital LLC now owns 16,606 shares of the biotechnology company's stock worth $149,000 after purchasing an additional 1,891 shares during the period. Cetera Investment Advisers increased its holdings in Aurinia Pharmaceuticals by 3.2% during the 4th quarter. Cetera Investment Advisers now owns 64,638 shares of the biotechnology company's stock worth $580,000 after purchasing an additional 2,000 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Aurinia Pharmaceuticals by 20.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,989 shares of the biotechnology company's stock worth $110,000 after purchasing an additional 2,238 shares during the period. 36.83% of the stock is currently owned by hedge funds and other institutional investors.

About Aurinia Pharmaceuticals

Aurinia Pharmaceuticals Inc, a commercial-stage biopharmaceutical company, focuses on developing and commercializing therapies to treat various diseases with unmet medical need in the United States. It offers LUPKYNIS for the treatment of adult patients with active lupus nephritis. It has a collaboration and license agreement with Otsuka Pharmaceutical Co, Ltd.